Collections Specialist

Collections Specialist

The Collections Specialist role will be responsible for managing and coordinating the collection of outstanding accounts to support the organization's cash flow and financial health. In addition, this role will partner with highly skilled professionals across the business to communicate with customers, resolve billing discrepancies, and ensure timely payment while maintaining positive client relationships. This candidate will be detail-oriented, proactive, and passionate about achieving results and supporting organizational success. In addition, the person in this role will have the mentality to think like a business owner and take a collaborative yet proactive approach to accomplishing business goals. This position reports directly to the Accounts Receivable Manager, Accounting Manager, or Controller.

Here's what you'll do:

• Proactively manage assigned accounts to maximize timely and accurate patient payments.
• Investigate outstanding balances and take necessary collection actions to resolve them swiftly.
• Respond to patient inquiries and requests professionally, ensuring clear and accurate communication.
• Utilize the most efficient resources available to secure timely payment of outstanding claims.
• Identify patterns of non-payment and escalate complex issues to management for further action.
• Review insurance remittance advices to ensure payment accuracy and identify any discrepancies.
• Identify and resolve billing errors, short payments, overpayments, and unpaid claims to ensure accurate account balances.
• Work effectively within set deadlines and maintain a high level of performance even in stressful situations.
• Contribute to a positive and collaborative work environment, and be willing to go the extra mile to meet departmental goals.

To be successful, you'll need:

• Education: High School Diploma or equivalent (GED) required. A Bachelor's degree is preferred but not required.
• Communication Master: Excellent interpersonal and communication skills to interact professionally with patients, insurance companies, and other stakeholders.
• Organizational Whiz: Strong organizational skills with the ability to prioritize tasks, solve problems effectively, and multitask efficiently.
• Medical Collections Experience: A minimum of 1-2 years' experience in medical collections, preferably in home infusion or DME (durable medical equipment).
• Industry Knowledge (Preferred): Working knowledge of managed care, commercial insurance, and Medicare reimbursement is a plus.